Khums: Khums on Ribā-Free Bank Loans Held Over a Year

Practical Laws of Islam as per the teachings of Imam Khamenei

Khums: Khums on Ribā-Free Bank Loans Held Over a Year

English:

Question #950:

Is the money that remains in a bank as a ribā-free loan for two years liable to khums?

Answer #950:

All savings from annual income are subject to khums only once, and depositing it in a bank as a ribā-free loan does not exempt it from khums. Of course, as long as one does not recover it from the borrower — in the case he is not able to recover it at the end of khums year — one is not liable to its khums.

-Imam Khamenei, Practical Laws of Islam, Importance and Conditions of Khums